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July Real Estate Roundup
Freddie Mac's results of its Primary Mortgage Market Survey® shows that "The housing market remains sluggish as mortgage rates inch up for a second consecutive week. Consumer concerns about rising rates, inflation and a potential recession are manifesting in softening demand. As a result of these factors, we expect house price appreciation to moderate noticeably."
• 30-year fixed-rate mortgage (FRM) averaged 5.54 percent with an average 0.8 points for the week ending July 21, 2022, up from last month when it averaged 5.81 percent. A year ago, at this time, the 30-year FRM averaged 2.78 percent.
• 15-year FRM this week averaged 4.75 percent with an average 0.8 points, down from last month when it averaged 4.92 percent. A year ago, at this time, the 15-year FRM averaged 2.12 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.31 percent this week with an average 0.3 points, down from last month when it averaged 4.41 percent. A year ago, at this time, the 5-year ARM averaged 2.49 percent.
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